Depositing $20,000 into a high-yield savings account could lead to some big returns on your money.
Everyone needs savings; there's no way around it. The money in your savings account is what you fall back on during rainy days or when unexpected expenses pop up. The good news is that you can generate a meaningful return on your savings with a high-yield savings account. So, what is a high-yield savings account? It's an account that works like a traditional savings account in that it's FDIC-insured, giving you a safe place to park your cash.
25% APY: $5,217A high-yield savings account at 5.20% APY: $5,267Open your high-yield savings account to take advantage of high rates and daily compounding returns. How much money should you have in savings?There's no magic number for the perfect amount of money for everyone to have in savings. Your unique lifestyle and goals play a role in the amount of money you should have in savings to maintain financial stability.
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